SAS 136 includes requirements to communicate reportable findings identified as a result of testing relevant plan provisions.
Senate Finance Committee Build Back Better language largely leaves House Bill unchanged. SALT language omitted as well as billionaires’ tax.
Employers need to react quickly to the new guidance to pay in amounts as if they were incurred on Dec. 31, 2021.
Bipartisan infrastructure bill passes House with bipartisan vote. President Biden expected to sign by end of next week.
One of the most common issues overlooked by employers relates to the special timing rule in section 3121(v)(2).
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
Notice 2021-49 provides answers on previously uncertain issues and addresses changes implemented in the American Rescue Plan Act.
Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.
The Relief Act made changes on how the Employee Retention Tax Credit works during the first two quarters of 2021.
Notice 2021-20 clarifies retroactive changes made to ERTC and PPP interaction and incorporates several previous frequently asked questions.
Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.
Taxpayers should familiarize with Biden’s plan, remain vigilant for developments and position themselves to act at the appropriate times.
The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.
The Act does not lengthen CARES Act COVID plan relief, but offers relief for non-COVID disasters, partial terminations and pension plans.
Last minute negotiations pave way for Congress to pass second major COVID-19 stimulus package with tax law changes and tax extenders.
IRS guidance on the 15% maximum on automatic contributions, 401(k) and 403(b) plan safe harbor requirements, and plan loan offset rollovers.